L&C is a no-fee mortgage broker that gets most of its revenue from commission paid by the lenders rather than the customers. Based in Bath, the company sells through a call centre for 150 lenders, including Abbey, Halifax and Alliance & Leicester. L&C was originally a subsidiary of Chase de Vere Investments but was bought out by non-executive director Mike Edge in 2000. Phillip Cartwright, the managing director, also worked at Chase de Vere. L&C’s sales have grown 85% a year from £1.1m in 2000 to £6.9m in 2003.
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